Frequently Asked Questions

A 203(k) consultant is a professional who assists homeowners and buyers in navigating the 203(k) loan process, which is a type of FHA loan designed for purchasing and renovating properties. These consultants play a crucial role by providing expertise in assessing the property's condition, estimating renovation costs, and ensuring that the proposed work meets FHA standards.

Key responsibilities of a 203(k) consultant include:

1. Property Evaluation: Inspecting the property to identify necessary repairs and improvements.
2. Cost Estimates: Preparing detailed cost estimates for the proposed renovations.
3. Project Management: Helping homeowners plan and manage the renovation process, ensuring it aligns with the loan requirements.

The initial inspection fee is based on the value of the constuction cost; it can range from $1,000 - $2,000. Each draw request inspection is $375.

Yes. HUD does not license, certify, or approve general/home improvement contractors. Please ensure the Home Improvement Contractor's license, state registration(s), and insurance(s) are current.  

No. All construction work must be contracted through a license general/home improvement contractor.